SpaceX $SPCX Stock Position Increased by King Luther Capital Management Corp

King Luther Capital Management Corp grew its holdings in SpaceX (NASDAQ:SPCX) by 43.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,384 shares of the company’s stock after acquiring an additional 21,800 shares during the period. King Luther Capital Management Corp’s holdings in SpaceX were worth $10,920,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SPCX. Winthrop Capital Management LLC raised its holdings in shares of SpaceX by 448.0% during the third quarter. Winthrop Capital Management LLC now owns 274 shares of the company’s stock worth $41,000 after purchasing an additional 224 shares during the last quarter. CFM Wealth Partners LLC purchased a new stake in SpaceX in the third quarter valued at $452,000. Maryland State Retirement & Pension System boosted its holdings in SpaceX by 29.9% in the third quarter. Maryland State Retirement & Pension System now owns 37,389 shares of the company’s stock valued at $5,641,000 after purchasing an additional 8,607 shares during the last quarter. Advisor Resource Council acquired a new stake in SpaceX during the 3rd quarter worth about $461,000. Finally, Ritholtz Wealth Management grew its position in SpaceX by 289.2% during the 3rd quarter. Ritholtz Wealth Management now owns 8,111 shares of the company’s stock worth $1,224,000 after purchasing an additional 6,027 shares during the period.

Recent SpaceX Headlines

Investors following SPCX have been watching these headlines:

• Positive Sentiment: SpaceX plans to invest more than $74 billion in supercomputing campuses in Texas and Arizona—about $24 billion in Texas and $50 billion in Arizona. The projects could expand its AI infrastructure capacity and support a major growth area. Reuters article
• Positive Sentiment: Investors are also responding to speculation that former Nvidia CEO Jensen Huang could join SpaceX after Elon Musk said hiring him “would be an honor.” A move could bolster the company’s AI ambitions, but no hiring decision has been announced. Benzinga article
• Negative Sentiment: The data-center plans require enormous spending and face local approval and infrastructure questions. Analysts have also cautioned that SpaceX will need to work with Texas officials after recent election results to advance its projects, leaving timing and execution risks. Benzinga article

Insider Buying and Selling

In other news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following the completion of the sale, the chief operating officer directly owned 2,472,035 shares in the company, valued at $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPCX. UBS Group reiterated an “overweight” rating and set a $300.00 price objective on shares of SpaceX in a research note on Wednesday, October 21st. Phillip Securities raised SpaceX from a “strong sell” rating to a “strong-buy” rating in a report on Friday, October 23rd. Weiss Ratings assumed coverage on SpaceX in a research report on Tuesday, September 1st. They set a “sell (d)” rating for the company. William Blair reissued an “outperform” rating on shares of SpaceX in a report on Friday, October 9th. Finally, CLSA initiated coverage on SpaceX in a research report on Monday, September 28th. They issued an “outperform” rating and a $250.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $243.60.

SpaceX Stock Up 0.1%

NASDAQ:SPCX opened at $139.94 on Friday. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. The firm has a market cap of $1.90 trillion and a PE ratio of 538.23. The company’s 50-day simple moving average is $149.12.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. The company had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The business’s revenue for the quarter was up 161.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.36) EPS. Sell-side analysts expect that SpaceX will post 0.22 earnings per share for the current fiscal year.

SpaceX Profile

Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions. SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.